Campbell Soup Company is taking steps to streamline its popular portfolio, announcing the completed sale of its famed Pop Secret popcorn line. Independent better-for-you snack company Our Home has officially purchased the business, strengthening its standing in the snacking space.
“This marks another step in our journey to strategically focus our Snacks portfolio,” Chris Foley, Executive Vice President and President, Campbell’s Snacks, stated. “The sale of Pop Secret will drive greater focus and accelerated growth across our Snacks division and portfolio of leading brands.”
As a press release noted, the transaction is expected to be dilutive to Campbell’s fiscal 2025 earnings per share by approximately $0.04, reflecting the timing of a transition service agreement and cost actions. In fiscal 2024, Campbell’s Pop Secret business generated net sales of approximately $120 million.
Terms of the transaction were not disclosed.
This strategic deal follows another tactical move by Our Home, as the company announced its acquisition of snacking brand ParmCrisps from Hain Celestial Group earlier this month.
DMN will continue to report on the deals shaking up the snacking and specialty sectors, so be on the lookout for our next update.
